11:12 AM, Mar 27, 2015 • By GEOFFREY NORMAN
Bloomberg reports that:
The U.S. economy expanded at 2.2 percent annualized pace in the fourth quarter, led by the biggest gain in consumer spending in eight years.
Nothing to shout about, especially since:
The report also showed corporate profits dropped in the last three months of the year, capping the worst annual performance since the recession.
And, as the Wall Street Journal reports, economists have:
… lowered their estimates for first-quarter growth in gross domestic product following a disappointing report on business spending and investment.
At least one first-quarter tracking estimate ... already close to zero. The Federal Reserve Bank of Atlanta on Wednesday put its gauge at 0.2%, down from its earlier estimate of 0.3%.
And most others are well below 2 percent.
9:50 AM, Mar 25, 2015 • By IRWIN M. STELZER
Water, Water Everywhere
And in some places in drought-ravished California even where it proves an embarrassment.
11:36 AM, Feb 26, 2015 • By GEOFFREY NORMAN
The recovery may be slowing and the end of the Fed’s QE efforts receding further into the future.
9:38 AM, Feb 25, 2015 • By GEOFFREY NORMAN
The Obama administration’s line on the economy appears to be that it has finally turned the corner and things are truly humming. And maybe so. But there are signs of trouble amid all the good cheer.
12:01 AM, Feb 7, 2015 • By IRWIN M. STELZER
We should “stop thinking about the economy as being in a perpetual crisis” commented Charles Plosser, President of the Federal Reserve Bank of Philadelphia, after the government announced on Friday that the private sector added 267,000 jobs in January, and that upward revisions to November and December data brought total job creation in 2014 to over three million.
3:36 PM, Feb 2, 2015 • By GEOFFREY NORMAN
The first number in a week that will produce many of them, culminating with monthly non-farm payrolls, is not promising for the recovery.
12:34 PM, Jan 30, 2015 • By GEOFFREY NORMAN
Listen to the president, his staff, and his supporters and you might be ready to believe that the economy is on a rocket ride to prosperity. More jobs, lower gas prices, increased consumer spending. So now, at last, we can afford to do away with sequestration and other implements of austerity. Time to grow and spend and prosper.
Striking the right balance. Feb 9, 2015, Vol. 20, No. 21 • By CHARLES WOLF JR.
President Obama can’t run again, as he noted in the State of the Union last month, but he sought to use his address to set the tone for the 2016 campaign. His repeated references to “middle-class economics” were tactful code, speaking in front of a Republican-controlled Congress, for that perennial Democratic favorite, the inequality debate.
11:48 AM, Jan 27, 2015 • By GEOFFREY NORMAN
Predictions of a robustly growing economy may prove as evanescent as yesterday’s winter storm warnings.
7:01 AM, Jan 27, 2015 • By JERYL BIER
The White House launched a new campaign this week to build support for President Obama's executive action on immigration.